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The Markets Desk — Week 44 · Tue 27 Oct 2026
Beats / 82 priced constituents

robotics

An equal-weight index of the priced names on this beat, rebuilt every Friday from the constituents that were actually in it.

162.2-0.2%base 100 · to 2026-10-23

This week

Down most

What happened

Events on robotics
DateTypeWhat happenedSource
2026-10-27editorial noteCapex figure revised: $229.5M → $1.5Capex moved from $229.5M (deep-dive-2026-06-20.md) to $1.5 (deep-dive-2026-10-27.md).dossier
2026-10-27editorial noteMargin figure revised: 6.2% → 8.4%Margin moved from 6.2% (deep-dive-2026-06-20.md) to 8.4% (deep-dive-2026-10-27.md).dossier
2026-10-27editorial noteRevenue figure revised: $9,188.5M → $40.0BRevenue moved from $9,188.5M (deep-dive-2026-06-20.md) to $40.0B (deep-dive-2026-10-27.md).dossier
2026-10-27editorial noteVerdict changed: Not a robotics name — the purest large-cap pick-and-shovel on AI back-end networking (800G→1.6T switches + custom hyperscaler racks), compounding adjusted EPS ~45%/yr; but ~65% of re…Before (deep-dive-2026-06-20.md): Not a robotics name — the purest large-cap pick-and-shovel on AI back-end networking (800G→1.6T switches + custom hyperscaler racks), compounding adjusted EPS ~45%/yr; but ~65% of revenue sits in three hyperscalers and the stock already prices ~37x forward, so the bet is "does hyperscaler capex and Celestica's share survive a single-customer wobble" rather than "is there demand." After (deep-dive-2026-10-27.md): Two quarters of beats took the 2026 outlook from $19.0B to $21.0B, and the first 2027 outlook is $40.0B revenue at a 9.0% adjusted operating margin — a near-doubling the company says is backed by 2028 customer forecasts "meaningfully higher". The cost is on the balance sheet: inventory doubled to $4.5B, Celestica sold $3.4B of new stock at $310 in August, started selling receivables ($701M outstanding), and cut its 2026 free-cash-flow outlook to $460M while guiding to a net use of cash in 2027. Concentration rose again: three hyperscalers are 66% of Q3 revenue, top ten 85%.dossier
2026-10-27editorial noteCapex figure revised: $5,789M → $25BCapex moved from $5,789M (deep-dive-2026-10-08.md) to $25B (deep-dive-2026-10-27.md).dossier
2026-10-27editorial noteMargin figure revised: $923M → 33.1%Margin moved from $923M (deep-dive-2026-10-08.md) to 33.1% (deep-dive-2026-10-27.md).dossier
2026-10-27editorial noteVerdict changed: Tesla now measures its own AI training compute in megawatts, not GPUs, and the Q2 deck puts Cortex 1 at more than 90 MW and Cortex 2 at more than 115 MW, both in Production. That is …Before (deep-dive-2026-10-08.md): Tesla now measures its own AI training compute in megawatts, not GPUs, and the Q2 deck puts Cortex 1 at more than 90 MW and Cortex 2 at more than 115 MW, both in Production. That is the first issuer figure for power, and it sits far below the 500 MW web claim. Capex jumped to $5.8B in Q2 and free cash flow went negative for the first time on this shelf, against a guide of more than $25B for the year. The new $30B of committed unsecured bank credit (not $28B; there is also a $2B 364-day line) is a general-purpose standby for that spend. Tesla says it does not plan to draw it in 2026. Descriptive only; no directional call. After (deep-dive-2026-10-27.md): The Q3 margin recovery is mostly a one-off. Tariff refunds under the IEEPA ruling added about $447M to gross profit, which is more than half of the $718M operating income. Energy gross margin was 33.1% as reported and about 23.8% without the refunds. Capex came in at $4.7B against the ~$8.4B pace the old guide needed, and the 10-Q cut the 2026 guide from more than $25B to more than $20B. The new fact is in Item 5 of the 10-Q: Tesla's board has formed a special committee of disinterested directors to explore "deepening Tesla's relationship with SpaceX", including a possible business combination. Descriptive only; no directional call.dossier
2026-10-26filingForm 4 cluster: 11 insiders, 20-22 Oct 2026 awards and tax withholding11 insiders filed Form 4 between 20 and 22 Oct 2026: RSU/PSU awards acquired (code A) and some shares withheld for tax at $280.99 (code F); no open-market sales shown.agent:company-events · SEC EDGAR Form 4
2026-10-26filing8-K Item 3.01: NYSE to delist EVEX warrants and suspend tradingNYSE notified Eve Holding on 21 Oct 2026 it will begin delisting public warrants EVEXW and suspend their trading (NYSE 802.01D, abnormally low selling price). Warrants are exercisable at $11.50 per share; common stock EVEX unaffected.agent:company-events · SEC EDGAR 8-K
2026-10-26filingForm 4 cluster: 4 insiders, 23 Oct 2026 share sales4 insiders filed Form 4 on 23 Oct 2026 reporting sales totaling 26,370 shares: Guthart 20,095 at weighted average $451.6117; Widman 4,047; Barratt 1,150; Wadors 1,078.agent:company-events · SEC EDGAR Form 4
2026-10-26guidance8-K: Q3 2026 results, revenue $5.83bnQ3 2026 revenue $5.83bn (Q3 2025: $3.19bn); GAAP diluted EPS $3.26; adjusted EPS $3.30; 2026 revenue outlook $21.0bn; 2027 revenue outlook $40.0bn; public offering gross proceeds $3.45bn completed.agent:company-events · SEC EDGAR 8-K
2026-10-26filing10-Q: Q3 2026 quarterly report, revenue $5,829.7mQuarter ended 30 Sep 2026: revenue $5,829.7m; net earnings $397.2m; diluted EPS $3.26; cash and equivalents $3,961.3m at 30 Sep 2026; 126,111,808 common shares outstanding at 21 Oct 2026.agent:company-events · SEC EDGAR 10-Q
2026-10-23filing8-K Item 7.01: press release on SIR EDGE 2026 conference attendanceFurnishes a 23 Oct 2026 press release (Ex. 99.1) announcing attendance at the SIR EDGE 2026 conference in Louisville, Kentucky, 25-27 Oct 2026.agent:company-events · SEC EDGAR 8-K
2026-10-23filing10-Q: quarter ended 27 Sep 2026, net sales $1,684.9mQ3 net sales $1,684.9m (2025 $1,539.5m); net income attributable $272.8m, diluted EPS $5.82. Nine months net sales $4,907.5m. Pending Varex acquisition, about $1.1bn cash, agreed 10 Aug 2026.agent:company-events · SEC EDGAR 10-Q
2026-10-23filing10-K: fiscal year ended 31 Aug 2026FY ended 31 Aug 2026: net revenues $36.0bn and net income attributable to Jabil Inc. $1.0bn, as stated in Item 1.agent:company-events · SEC EDGAR 10-K
2026-10-22filingForm 4 filings: 10 insiders; 1,000 shares sold, 8,076 withheld for tax10 insiders filed Form 4s 16-20 Oct 2026. Gary Schick sold 1,000 shares on 20 Oct 2026 under a 10b5-1 plan; code F tax withholdings totalled 8,076 shares on 16 and 19 Oct 2026.agent:company-events · SEC EDGAR Form 4
2026-10-22filing10-Q: quarter ended 30 Sep 2026, revenues $28,046MTotal revenues $28,046M for Q3 2026 (Q3 2025 $28,095M); net income attributable to common stockholders $787M (Q3 2025 $1,373M). Nine months: revenues $78,669M; net income $2,378M.agent:company-events · SEC EDGAR 10-Q
2026-10-22guidance8-K 2.02: Q3 2026 sales $4,994M; FY2026 guidance updatedQ3 2026 sales $4,994M (+1% reported, +7% organic); operating income $740M; net income attributable $664M; diluted EPS $2.08; adjusted EPS $2.27. FY2026 sales guidance $20.0B-$20.1B; adjusted EPS $8.40-$8.45.agent:company-events · SEC EDGAR 8-K
2026-10-21filingIntuitive Surgical 10-Q: Q3 2026 revenue $3,048.7M, net income $524.4MQuarter ended 30 Sep 2026: revenue $3,048.7M; net income $524.4M, including a $450.0M antitrust class action settlement charge. Nine months: revenue $8,711.8M; net income $2,173.6M.agent:company-events · SEC EDGAR 10-Q
2026-10-21guidanceTeledyne reports Q3 2026 net sales of $1,684.9MQ3 2026 net sales $1,684.9M, net income attributable $272.8M, GAAP diluted EPS $5.82, non-GAAP EPS $6.72. FY2026 GAAP EPS outlook raised to $21.71-$21.87. Varex Imaging acquisition (~$1.1B cash) expected to close early 2027.agent:company-events · SEC EDGAR 8-K

Dated ahead

Dated catalysts ahead
DateCompanyPeriodFirmness
2026-10-28Proto Labs PRLB2026-Q3expected
2026-10-29Stryker SYK2026-Q3confirmed
2026-10-29Accuray ARAYFY2027-Q1expected
2026-10-30Stryker SYK2026-Q3expected
2026-10-31PROCEPT BioRobotics PRCT2026-Q3expected
2026-11-01Aurora Innovation AUR2026-Q3expected
2026-11-02Aurora Innovation AUR2026-Q3expected
2026-11-02Proto Labs PRLB2026-Q3expected
2026-11-02FARO Technologies FARO2026-Q3expected
2026-11-02JBT Marel JBTM2026-Q3confirmed
2026-11-02Zimmer Biomet ZBH2026-Q3expected
2026-11-02Cognex CGNX2026-Q4expected
2026-11-03JBT Marel JBTM2026-Q3expected
2026-11-03Allient ALNT2026-Q3expected
2026-11-03Globus Medical GMED2026-Q3expected
2026-11-03Zebra Technologies ZBRA2026-Q3expected
2026-11-03Rockwell Automation ROKFY2026-Q4expected
2026-11-04PROCEPT BioRobotics PRCT2026-Q3expected
2026-11-04Zebra Technologies ZBRA2026-Q4expected
2026-11-04Trimble TRMB2026-Q4expected